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FCT: Crisis Looms Over TV, Radio Tax Enforcement

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Many residents of the Abuja Municipal Area Council (AMAC) have rejected the enforcement of television and radio sets tax by the area council authorities.

 

They described it as untimely, accusing the government of not being sensitive to the plight of the masses.
According to report, residents described the council’s action as inhuman amid the severe economic hardship in the country.

A demand notice from the area council was recently sent to some residents, requesting them to pay for the usage of these and other items in their houses and business premises

“Many residents shared the notice on their social media platforms, calling for a reversal of the policy” the report said.

The controversy stems from the recently assented AMAC Radio and Television Licence By-Law (No. 19) of 2024.

The invoice, or notice of demand, sent to residents requests full payment within 21 days.

According to the notice, failure to comply is a punishable offence that could lead to arraignment at the magistrate’s court and the possible sealing off of the affected premises.

The new by-law mandates an annual license fee for anyone who owns or controls a radio, television, or “other items of the same or similar kind.”

The annual fees are categorised as follows: large banks and multinationals (Category B) are to pay N1,000,000 annually, medium-sized businesses (Supermarkets, hotels, and telecom companies – Category C) are to pay between N50,000 and N200,000 and residents (Duplexes, flats, bungalows, and self-contained apartments – Category D), who are to pay between N3,500 and N20,000 per dwelling.

A Cross-section of AMAC residents have demanded the stoppage of the tax policy, labelling it ill-timed.

Mr John Achungu, a business owner at the Central Business District, said he was shocked when the council’s revenue officers delivered the notice.

“Honestly, this is surprising! How can you ask me to pay for the television I’m using in my office or waiting room? What service are you rendering in that regard? Providing the signal for the TV or the electricity we are using to power it? I can’t really understand,” he lamented.

Mrs Zainab Muhammad, a food vendor in Wuse District, said her business was classified in Category C and she was asked to pay the required amount within 21 days or risk her business being sealed off.

“The same AMAC will bring the tenement rate, bring this, bring that; how many taxes are they going to collect from us? Honestly, this administration has been something else from the national down to the local,” she complained.

For Ifeanyi James, the new tax is targeted at further discomforting residents amid the economic crisis they are passing through. “They expect us to pay another tax to watch our stations even after we have paid service providers. They want us to even pay for listening to the radio. What is the difference between this and the radio license during the olden days?” he asked.

Samson Isah, a community leader in Jabi, described the tax policy as not only ridiculous but inhuman to many residents who are struggling to live.

“When one of my tenants told me about the demand from the AMAC, I did not believe her until the following day when she came with the demand notice from the area council,” he said.

The report claimed some other residents, called for an immediate review and possible suspension.

Toyin Ajayi, a public affairs analyst, demanded a public campaign to explain the necessity of the tax and what the generated revenue will be used for, rather than just issuing demand notices with threats.

He also stressed the need for a clear explanation of what constitutes “electronic devices” to prevent extortion and harassment by enforcement officers.

Meanwhile, the Abuja Municipal Area Council (AMAC) has justified the tax, saying it is constitutional and not new, as is been assumed in some quarters, the report added.

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Wema Bank Rewards 273 Customers in 5 for 5 Rewards Campaign

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One month after launching Season 5 of its flagship 5 for 5 Rewards campaign, Wema Bank has rewarded 273 customers with a total of ₦17.96 million, demonstrating the strong early impact of its refreshed customer rewards platform and reinforcing its commitment to rewarding everyday banking.

 

Launched on May 2, 2026, as part of the Bank’s 81st anniversary celebration, this season of the campaign introduced a more structured and inclusive rewards framework designed to encourage positive financial habits while recognising customer loyalty across the Youth, Women and Mass Market segments.

The season opened with a special anniversary activation at Ikeja City Mall, where 81 customers received ₦81,000 each, resulting in ₦6.56 million in rewards on launch day. Since then, the campaign has continued to reward customers through daily and monthly draws, with an additional 192 winners emerging within the first month.

Across the Youth segment, 37 students have received rewards worth ₦4.4 million, including 20 students who received ₦50,000 PocketMoni rewards and 17 university students who received ₦200,000 each in Tuition Support.

The Women segment also recorded strong participation, with 12 customers receiving ₦150,000 each through the #SelfCare category, while the Mass Market segment recorded the highest number of winners. Within the first month, 120 customers received daily cash rewards, and 23 customers won ₦200,000 each in the monthly draw, bringing total rewards in the category to ₦5.2 million.

Commenting on the campaign’s early impact, Wema Bank’s Managing Director and Chief Executive Officer, Moruf Oseni, said; “At Wema Bank, we believe loyalty should be rewarded in ways that are meaningful, transparent and accessible. The response to Season 5 of the 5 for 5 Rewards campaign has been encouraging, and seeing hundreds of customers benefit within just one month reinforces our belief that everyday banking should create everyday opportunities.

Beyond rewarding transactions, we are encouraging positive financial habits while delivering real value to our customers. He added; “This is only the beginning. With more reward categories, more winners and more opportunities still ahead, we remain committed to creating meaningful impact for our customers and ensuring more Nigerians experience the value of banking with Wema.”

Customers can participate by opening or reactivating a Wema Bank account, funding it with a minimum of ₦5,000, maintaining an average monthly balance of ₦5,000, and completing at least five transactions every month using the ALAT app, Wema or ALAT cards, or *945#.

With over ₦170 million earmarked for rewards between May and December 2026, thousands more customers are expected to benefit as the campaign continues, reaffirming Wema Bank’s commitment to rewarding loyalty, promoting positive financial behaviour and delivering value beyond banking.

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MAN Raises SSB Tax Alarm Says 1.5m Jobs On The Line

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The Manufacturers Association of Nigeria (MAN) has warned that plans to significantly increase excise duties on sugar-sweetened beverages (SSBs) could threaten a sector responsible for about 33 per cent of the nation’s manufacturing output and over 1.5 million direct and indirect jobs.

 

In a statement on Tuesday, Director General of MAN, Segun Ajayi-Kadir, speaking on behalf of operators in the Non-Alcoholic Drinks (NAD) sector, urged the Federal Government to adopt a balanced, evidence-based and coordinated approach to excise taxation.
The warning follows proposals contained in the Customs and Excise Tariff etc. (Consolidation) Act Amendment (CETA) Bill 2025, which seeks to replace the current specific excise rate of N10 per litre on sugar-sweetened beverages with a percentage levy based on retail prices.

Ajayi-Kadir said the proposed measure, if implemented, could undermine industrial growth, job creation, investor confidence and broader macroeconomic stability.

According to him, the non-alcoholic drinks industry remains one of the most resilient segments of Nigeria’s manufacturing sector, supporting extensive value chains across production, logistics, agriculture, retail and micro, small and medium enterprises (MSMEs).

“The sector currently accounts for approximately 33 per cent of manufacturing output and sustains over 1.5 million direct and indirect jobs. Any fiscal policy that significantly increases the tax burden on the industry will have far-reaching consequences across the economy,” he said.
Ajayi-Kadir noted that manufacturers in the sector already remit between 40 and 45 per cent of their gross revenues in taxes, placing them close to the upper limit of sustainable taxation.

While acknowledging government efforts to address non-communicable diseases (NCDs), he argued that policy interventions should reflect Nigeria’s consumption realities and be guided by empirical evidence.

He stated that Nigeria’s annual per capita sugar consumption stands at about 7.1 kilogrammes, which is within levels recommended by the World Health Organisation (WHO), adding that beverages account for only a small proportion of overall sugar intake.
“There is no conclusive empirical evidence identifying sugar-sweetened beverages as the primary driver of non-communicable diseases in Nigeria, which are widely recognised as being influenced by multiple factors, including genetics, lifestyle, environment and broader dietary habits,” he said.

The MAN DG further expressed concern that the proposed amendment could conflict with the recently introduced Fiscal Policy Measures (FPM) 2026–2028 framework, creating uncertainty for investors and weakening medium-term industrial initiatives such as the Nigeria First Policy and the Nigeria Sugar Master Plan (NSMP II).

He also argued that introducing a retail price-based excise system alongside the existing per-litre charge would create legal, administrative and enforcement challenges, given that Nigeria’s current excise framework is based on ex-factory or ex-warehouse pricing.

Ajayi-Kadir urged the government to pursue a coherent and predictable excise regime that supports revenue generation and public health objectives without jeopardising industrial growth, employment and economic stability.

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Bitcoin Drops Below $60,000, First Time Since October 2024

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Bitcoin dropped below $60,000 on Friday, its lowest level since October 2024, just before Donald Trump’s election which propelled it to a record high.

 

The currency fell by about 6 percent around 1615 GMT, to $59.7709, before paring its losses slightly.

The election of Trump, a staunch advocate of cryptocurrencies, to the White House in November 2024 for a second term sparked a wave of enthusiasm in the sector, sending the price of bitcoin soaring to nearly $110,000.

 

AFP

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